Announcements
$30.0 million Investment of Junior Capital in Pacon Corporation Announced
PITTSBURGH, PA - November 1, 2011
PNC Mezzanine Capital announced today a $30.0 million subordinated debt and equity co-investment in support of the acquisition of Pacon Corporation ("Pacon") by Mason Wells, a Milwaukee, WI based private equity fund. Headquartered in Appleton, WI, Pacon is a leading provider of specialty paper products for the school and artist markets.
About PNC Mezzanine Capital
PNC Mezzanine Capital is focused on financing buyouts, recapitalizations and consolidation strategies for companies in a wide range of industries, including business services, niche manufacturing and value-added distribution. Since 1989, PNC Mezzanine Capital has been a stable, thoughtful mezzanine partner for sponsor groups, entrepreneurs and management teams. Our approach has been to underwrite the long-term business strategy of our portfolio companies allowing us to respond constructively to the opportunities and challenges of the changing business environment. As a result, PNC Mezzanine Capital has made 92 investments in 56 companies, in support of 141 transactions. We seek to invest $10 million to $45 million in subordinated debt and equity in companies with strong management teams, proven business models and stable cash flows with a clear avenue for growth.
About Pacon Corporation
Pacon Corporation is a manufacturer, converter and supplier of paper products, educational aids and arts & crafts products, and markets its products worldwide. With facilities in Appleton and Neenah, Wis., as well as Barrie, Ontario, Pacon primarily sells its products into two markets: school and art. In the school market, Pacon is a leading converter and marketer of consumable school supplies sold under numerous brands, including Peacock, Tru-Ray and Fadeless to the K-8 market. In the art market, Pacon is a leading converter and marketer of art papers sold primarily under the Strathmore Artist PapersT brand to student, professional and recreational artists. Pacon Corporation operates under the names Pacon Corporation, Strathmore Artist PapersT, Bemiss-Jason, Baywood ULC and Superior Specialties, Inc. For more information relating to Pacon, please visit www.pacon.com and www.strathmoreartist.com.
Contact Media Relations:
Amy Vargo
(412) 762-1535
amy.vargo@pnc.com
Douglas P. Brosius
Partner
PNC Mezzanine Capital
douglas.brosius@
pncmezzanine.com
(412) 768-6809
